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Problem 8-48 Prepare a Production Cost Report: Weighted-Average Method (LO 8-3, 4) Kansas Supplies is a manufacturer of plastic parts that uses the weighted-average process

Problem 8-48 Prepare a Production Cost Report: Weighted-Average Method (LO 8-3, 4)

Kansas Supplies is a manufacturer of plastic parts that uses the weighted-average process costing method to account for costs of production. It produces parts in three separate departments: Molding, Assembling, and Packaging. The following information was obtained for the Assembling Department for the month of April.

Work in process on April 1 had 112,000 units made up of the following:

Amount Degree of Completion
Prior department costs transferred in from the Molding Department $ 157,920 100 %
Costs added by the Assembling Department
Direct materials $ 89,600 100 %
Direct labor 36,744 60 %
Manufacturing overhead 28,416 50 %
$ 154,760
Work in process, April 1 $ 312,680

During April, 512,000 units were transferred in from the Molding Department at a cost of $721,920. The Assembling Department added the following costs:

Direct materials $ 375,680
Direct labor 187,416
Manufacturing overhead 145,464
Total costs added $ 708,560

Assembling finished 412,000 units and transferred them to the Packaging Department.

At April 30, 212,000 units were still in work-in-process inventory. The degree of completion of work-in-process inventory at April 30 was as follows:

Direct materials 80 %
Direct labor 70
Manufacturing overhead 40

Required:

a. Prepare a production cost report using the weighted-average method. (Round "Cost per equivalent unit" to 2 decimal places.)

Problem 8-48 Prepare a Production Cost Report: Weighted-Average Method (LO 8-3, 4)

Kansas Supplies is a manufacturer of plastic parts that uses the weighted-average process costing method to account for costs of production. It produces parts in three separate departments: Molding, Assembling, and Packaging. The following information was obtained for the Assembling Department for the month of April.

Work in process on April 1 had 112,000 units made up of the following:

Amount Degree of Completion
Prior department costs transferred in from the Molding Department $ 157,920 100 %
Costs added by the Assembling Department
Direct materials $ 89,600 100 %
Direct labor 36,744 60 %
Manufacturing overhead 28,416 50 %
$ 154,760
Work in process, April 1 $ 312,680

During April, 512,000 units were transferred in from the Molding Department at a cost of $721,920. The Assembling Department added the following costs:

Direct materials $ 375,680
Direct labor 187,416
Manufacturing overhead 145,464
Total costs added $ 708,560

Assembling finished 412,000 units and transferred them to the Packaging Department.

At April 30, 212,000 units were still in work-in-process inventory. The degree of completion of work-in-process inventory at April 30 was as follows:

Direct materials 80 %
Direct labor 70
Manufacturing overhead 40

Required:

a. Prepare a production cost report using the weighted-average method. (Round "Cost per equivalent unit" to 2 decimal places.)

KANSAS SUPPLIES

Assembling Department

Production Cost ReportWeighted-Average

Flow of Production Units

Physical units

Units to be accounted for:

Beginning WIP inventory

Units started this period

Total units to be accounted for

DETAILS

Total Costs

Prior Department Costs

Materials

Labor

Manufacturing Overhead

Costs to be accounted for:

Costs in beginning WIP inventory

Current period costs

Total costs to be accounted for

Cost per equivalent unit:

Prior department costs

Materials

Labor

Manufacturing overhead

Costs accounted for:

Costs assigned to units transferred out:

Prior department costs

Materials

Labor

Manufacturing overhead

Total costs of units transferred out

Costs assigned to ending WIP inventory:

Prior department costs

Materials

Labor

Manufacturing overhead

Total ending WIP inventory

Total costs accounted for

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